questions displayed below] Stark company has the following adjusted accounts with normal balances at its December 31 year-end. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Services revenue $ 28,000 Accumulated depreciation-Buildings 4,200 Accounts receivable 840 Utilities expense 10,000 Interest payable 2,100 Unearned revenue 44,000 Supplies expense 9,200 Buildings 3,500 Dividends 27,000 Depreciation expense-Buildings 105,000 Supplies Retained earnings $32,000 7,400 3,000 780 1,650 540 210,000 11,500 10,500 1,650 99,800 Use the adjusted accounts for Stark Company to prepare the (1) income statement and (2) statement of retained earnings for the ye ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $99,800 on December 31 the prior year.
questions displayed below] Stark company has the following adjusted accounts with normal balances at its December 31 year-end. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Services revenue $ 28,000 Accumulated depreciation-Buildings 4,200 Accounts receivable 840 Utilities expense 10,000 Interest payable 2,100 Unearned revenue 44,000 Supplies expense 9,200 Buildings 3,500 Dividends 27,000 Depreciation expense-Buildings 105,000 Supplies Retained earnings $32,000 7,400 3,000 780 1,650 540 210,000 11,500 10,500 1,650 99,800 Use the adjusted accounts for Stark Company to prepare the (1) income statement and (2) statement of retained earnings for the ye ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $99,800 on December 31 the prior year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
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Stark company has the following adjusted accounts with normal balances at its December 31 year-end.
$ 28,000 Accumulated depreciation-Buildings
4,200 Accounts receivable
Notes payable
Prepaid insurance
Interest expense
Accounts payable
Wages payable
Cash
Wages expense
Insurance expense
Common stock
Services revenue
840 Utilities expense
10,000 Interest payable
2,100 Unearned revenue
44,000 Supplies expense
9,200 Buildings
3,500 Dividends
27,000 Depreciation expense-Buildings
105,000
Income
Statement
Complete this question by entering your answers in the tabs below.
Expenses
Use the adjusted accounts for Stark Company to prepare the (1) income statement and (2) statement of retained earnings for the ye
ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $99,800 on December 31
the prior year.
Supplies
Retained earnings
Statement of
Retained Balance Sheet
Earnings
Prepare the income statement for the year ended December 31.
STARK COMPANY
Income Statement
For Year Ended December 31
$ 32,000
7,400
3,000
780
1,650
540
210,000
11,500
10,500
1,650
99,800](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7cded8b9-973b-4272-b0f8-99b5f8d97dd6%2Ff3e3eb59-66cf-4a32-9959-b03f2a8ced28%2Ffzqp7ed_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Stark company has the following adjusted accounts with normal balances at its December 31 year-end.
$ 28,000 Accumulated depreciation-Buildings
4,200 Accounts receivable
Notes payable
Prepaid insurance
Interest expense
Accounts payable
Wages payable
Cash
Wages expense
Insurance expense
Common stock
Services revenue
840 Utilities expense
10,000 Interest payable
2,100 Unearned revenue
44,000 Supplies expense
9,200 Buildings
3,500 Dividends
27,000 Depreciation expense-Buildings
105,000
Income
Statement
Complete this question by entering your answers in the tabs below.
Expenses
Use the adjusted accounts for Stark Company to prepare the (1) income statement and (2) statement of retained earnings for the ye
ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $99,800 on December 31
the prior year.
Supplies
Retained earnings
Statement of
Retained Balance Sheet
Earnings
Prepare the income statement for the year ended December 31.
STARK COMPANY
Income Statement
For Year Ended December 31
$ 32,000
7,400
3,000
780
1,650
540
210,000
11,500
10,500
1,650
99,800
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